Amazon Rocks Grocery Store Market With Purchase Of Whole Foods

"Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy", said Amazon co-founder and CEO Jeff Bezos in a statement.

Amazon will "use Whole Foods as a laboratory to try to completely transform the sector" of food distribution, so far still little invested in online commerce, said Volokhine. HBO's John Oliver did a savage skit about the company's high prices.

Small-company stocks fell more than the rest of the market.

Amazonannounced Friday it would purchase struggling organic grocer Whole Foods for $13.7 billion, and with Whole Foods stock price falling since a peak in 2013, many are wondering how Amazon - and its record of innovation and technology - could save the once ascendant organic grocer. Whole Foods itself had launched an offshoot chain named after its "365" private label brand in a nod to the popularity of no-frills chains. And the key measure that retailers look at to gauge their health, revenue at stores open more than a year, has fallen for seven quarters in a row. Initially an internet bookshop, Amazon began delivering non-perishable food items like cereal and soup in 2006, prompting derision from the grocery industry.

Whole Foods, which will keep operating stores under its name, said in an email to customers, that it will maintain the same standards under Amazon, including bans on artificial flavors and colors and antibiotics in hens producing its eggs.

Amazon's acquisition of Whole Foods ranks as the 11th biggest global retail deal of all time and the fourth largest USA retail deal, according to Thomson Reuters. Four of the five biggest losses in the S&P 500 index in early trading were retailers: Kroger, Target, Costco and Wal-Mart Stores.

Target tumbled $4.65, or 8.4 percent, to $50.812. Target TGT has tumbled over 10% so far today, and wholsale giant Costco COST is also trading down nearly 7%. That was a trend Whole Foods helped start.

Supermarket chain Kroger, which plunged 19 percent Thursday after lowering its sales forecast, lost another $3.06, or 12.5 percent, to a three-year low of $21.48. Sprouts Farmers Market skidded $1.69, or 7.5 percent, to $20.74 and Supervalu sank 51 cents, or 13.6 percent, to $3.25.

With this acquisition, Amazon is going to upset the food distribution landscape and further expands its empire, after launching into series production, food delivery, cloud computing and drones. General Mills dipped $1.83, or 3.1 percent, to $57. Both companies said there will be no layoffs, but did not respond to other questions about Amazon's plans for Whole Foods. The company said it is cooperating with the investigation and its own auditing hasn't turned up any major erroneous costs or problems. The yield on the 10-year Treasury note fell to 2.15 percent from 2.17 percent.

The other major players in the grocery retail field, which used to be seen as one of the most solid and unshakeable industries, have been scrambling to catch up. Hong Kong's Hang Seng rebounded 0.2 percent. Britain's FTSE 100 gained 0.5 percent.

Related News:

Mr Trump insisted that Mr Comey lied in some parts of the testimony he gave on Thursday to the Senate intelligence committee . "No collusion, no obstruction, he's a leaker, but we want to get back to running our great country", Trump said.

Wall Street is only getting more bullish on the stock, with 15 of analysts who cover TECK having a buy-equivalent rating. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 8.825 and a beta of 1.22.

Finally, TheStreet raised shares of Franklin Resources from a "c" rating to a "b-" rating in a research note on Friday, March 3rd. The blending and weighting of numbers above created the technical model built by Capital Market Laboratories (www.CMLviz.com).

Seven of those episodes comprise season 7 and six is confirmed to be the count for the eighth and final season next year. He was also a well-liked ruler, notable for his kindness, compassion and intellect.

He was never able to play more than three consecutive games last season due to lingering knee and quad issues. The LT out of Wisconsin was considered one of the top offensive linemen in this year's draft class.

The parade wound through downtown Oakland, where fans in Warriors shirts and hats cheered their favorite players. A lot of people have been doubting him and hoping that he fails and that I fail, hoping that we fail as a group.

Previous leaks have shown us what the iPhone 8 could look like and now a set of renders show the smartphone running iOS 11 . "With iOS 11 , iPhone and iPad are the most powerful, personal and intelligent devices they've ever been".

The active investment managers in our database now have: 38.43 million shares, down from 42.89 million shares in 2016Q3. The company is scheduled to issue its next earnings report before the market opens on Thursday, August 3rd.

This change will be effective from July 3 as the former has chose to move out of the IT company and pursue other opportunities. Kennedy was the second Infosys executive after former CFO Rajiv Bansal to be paid a severance package.

Damage is seen to a tower block which was destroyed in a fire disaster, in north Kensington, West London , Britain June 15, 2017 . Many have blamed the fire's fast spread on the exterior cladding used in the building's recent £10 million refurbishment.

Most liked

Central Valley Community Bancorp
Norges Bank bought a new stake in shares of Valley National Bancorp during the fourth quarter worth approximately $27,167,000. The financial services provider reported $0.17 EPS for the quarter, hitting the Thomson Reuters' consensus estimate of $0.17.

Trump says Qatar funding terrorism at 'high level'
The U.S. also has multiple bases in Saudi Arabia and in Bahrain, a small island nation that serves as the home of the U.S. Earlier, US President Donald Trump has accused Qatar of funding terrorism, and urged it to stop.

Trump under probe for possible obstruction of justice
The investigation into Trump started after former FBI Director James Comey was sacked , according to the Washington Post report. Those questions were prompted after a friend of President Donald Trump said the White House was considering firing Mueller .

Thor Industries' (THO) Buy Rating Reaffirmed at Citigroup Inc
Investors may also be paying close concentration to some simple moving average indicators on shares of Ionis Pharmaceuticals, Inc. The company was upgraded on Wednesday, September 28 by Wellington Shields. (NYSE:THO) on Friday, October 2 with "Buy" rating.

Puerto Rico Votes To Become 51st US State
Attachments to cultural and national identity are the main reasons why Puerto Ricans may oppose US statehood, Cruz-Martinez said. Opponents called the referendum a waste of money and worry statehood would take away from the island's cultural identity.